Rate hikes await Asian ocean cargo deliveries in January

A number of ocean carriers have announced general rate increases (GRIs) for implementation next month.

Mediterranean Shipping Co. (MSC) will implement a GRI of US$750 per 20-foot-equivalent unit (TEU) and $1,500 per 40-foot-equivalent unit (FEU) on shipments from the Far East to the South America East Coast effective January 1, 2014.

The rate hike was originally intended for December 1, 2013 but has been postponed by a month.

Freight rates from Asia to West Africa and Angola are also slated to rise from January 10 by $150 per TEU and $300 per FEU.

And starting January 15, a rate hike of $200 per TEU will be applied to all cargo on MSC’s Capricorn service from Southeast Asia (Malaysia, Singapore, Indonesia, Thailand, and Vietnam) to any Australian port.

Meanwhile, CMA CGM said a peak season surcharge will be levied on shipments from all Asian ports to the Mediterranean trades effective January 6.

The PSS of US$300 per TEU covers all cargoes from Asian ports to the West Mediterranean, Adriatic, East Mediterranean, Black Sea, and North Africa.

Hapag-Lloyd is following suit with its own freight rate adjustments. Rates on the East Asia (excluding Japan)-Arabian Gulf trade lane are set to rise by US$300 per TEU effective January 1.

The Arabian Gulf encompasses the ports in the United Arab Emirates, Bahrain, Iraq, Kuwait, Oman, Qatar, and Saudi Arabia.

Likewise scheduled for a GRI effective January 6 are the German box ship’s network services in the East Asia-North Europe/Mediterranean trade.

“Hapag-Lloyd will increase rates for all cargoes and all container types on the Far East westbound trade from East Asia (excluding Japan) by $500 per TEU,” an official company statement said.

North Europe/Mediterranean is composed of the West Mediterranean, East Mediterranean, Black Sea, and North Africa destinations.

Hapag-Lloyd is also ready to implement a GRI from East Asia to Mexico, West Coast of Central America, and West Coast of South America.

Rates on these routes will go up effective January 15 by $300 per TEU.